Nyoni gets industry backing | Business Times

TENDAISHE NYAMUKUNDA

 

Business leaders have backed Dr. Sithembiso Nyoni, the Minister of Industry and Commerce, in her efforts to  exert pressure  on firms to manufacture products using local resources in order to promote value chain development, Business Times can report.

The move is expected to unlock the country’s economic growth potential and boost industry production.

Speaking to business leaders recently, Dr Nyoni said: “Businesses must begin producing goods utilizing domestic resources and this  will also boost the value chains in the country.”

Business leaders applauded the minister’s recommended course of action.

“Economic transformation of any country is anchored on the industrial base of that country and behind that is manufacturing. Thus as an economy we have to support our manufacturing for economic transformation to take place,” the president of Consideration of Zimbabwe Industries, Kurai Matsheza told Business Times.

He added: “Therefore encouraging and supporting local production is one such step in the pursuit of economic growth. The move to support local manufacturing is welcome for us in industry.”

Matsheza, however, asserted that in order to encourage local manufacturing, certain safeguards, including the availability of electricity, some level of protection, export incentives, effective transportation, and infrastructure that guarantees high levels of production  must be put in place.

“However, for that to happen there must be key enablers to support that initiative. Availability of electricity, some level of protection(duties), export incentives, efficient transport infrastructure and so forth are some of the issues that would need to be in place,” Matsheza said.

The president of  the Zimbabwe  National  Chambers of Commerce, Mike Kamungeremu  weighed in saying: “We had a  tour  of the Manhize Steel Plant in Mvuma. We have seen massive work which has been done so far. As you know right now the steel that is being used in industries   is being imported from South Africa mainly and other places. And you would find out that steel is very expensive and what we saw (at Manhizhe) supports what the Minister (Dr Nyoni)  had called for. It’s a plant which we will love using.”

Moreover, Kamungeremu said local product manufacturing with locally available resources is a positive step for the industry sector and that they firmly support the Minister’s initiative, despite the fact that policy makers must consider certain matters to guarantee the expansion of local product manufacturing.

“Manufacturing locally using local resources is the way to go and we support  the Minister  100% in that call.  So we may have issues that we want to improve in terms of policy making but when it comes to local production we are 100% with the minister, ” said   Kamungeremu.

Finance, Economic Development and Investment Promotion Minister, Professor  Mthuli Ncube  also recommended that all customers  should  prioritize  buying local products because doing so  fosters economic growth, job creation and the flow of products in the markets.

“As part of the strategy to support local industries, the government calls upon  all consumers  to prioritize  the purchase of local products,  as a strategy to preserve  domestic jobs and promote value chains to unlock growth potential  of the economy,”  Professor Ncube said.

 

 

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